American Century Companies Inc. Acquires 35,818 Shares of Powell Industries, Inc. (NASDAQ:POWL)

American Century Companies Inc. raised its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 15.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 274,388 shares of the industrial products company’s stock after acquiring an additional 35,818 shares during the quarter. American Century Companies Inc. owned approximately 2.29% of Powell Industries worth $39,347,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Powell Industries by 38.2% in the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 79 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Powell Industries in the 2nd quarter valued at $47,000. Plato Investment Management Ltd purchased a new stake in shares of Powell Industries in the 1st quarter worth $50,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Powell Industries in the 2nd quarter worth $140,000. Finally, Caxton Associates LP purchased a new stake in shares of Powell Industries in the 1st quarter worth $212,000. Institutional investors own 89.77% of the company’s stock.

Insider Buying and Selling

In related news, insider Robert B. Callahan sold 1,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the completion of the sale, the insider now directly owns 11,066 shares in the company, valued at approximately $1,770,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Robert B. Callahan sold 1,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the completion of the sale, the insider now directly owns 11,066 shares in the company, valued at approximately $1,770,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the sale, the director now owns 9,660 shares of the company’s stock, valued at $1,795,214.40. The disclosure for this sale can be found here. Insiders sold 13,100 shares of company stock worth $2,224,552 in the last three months. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a report on Thursday, June 6th.

Powell Industries Trading Up 2.5 %

Shares of POWL stock opened at $174.44 on Wednesday. Powell Industries, Inc. has a twelve month low of $72.51 and a twelve month high of $209.14. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 0.99 and a beta of 0.87. The stock has a fifty day simple moving average of $156.63 and a two-hundred day simple moving average of $156.14.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, topping the consensus estimate of $2.16 by $1.63. The business had revenue of $288.17 million during the quarter, compared to analysts’ expectations of $222.18 million. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 EPS. Research analysts predict that Powell Industries, Inc. will post 12.01 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 14th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Wednesday, August 14th. Powell Industries’s dividend payout ratio (DPR) is currently 12.59%.

Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.